TotalEnergies, Qatar expand Orange Basin holdings to South Africa 

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Wed, 2024-03-06 17:39

PARIS: TotalEnergies and Qatar’s oil company on Wednesday said they would buy a stake in a license to seek oil and gas off South Africa as part of their plans to develop the Orange Basin area in neighboring Namibia. 

The French company will buy a 33 percent stake in the license to drill in offshore block 3B/4B, which extends over about 18,000 sq. km, while state-owned QatarEnergy will hold a 24 percent stake, the two companies said without disclosing the value of the deal. 

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